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August 1, 2012
Survey: Cash Flow Issues Continue to Plague Many Small Businesses

WASHINGTON — 43% of small-business owners needed funds in last four years but could find no willing sources

WASHINGTON — Cash flow issues continue to plague a significant number of America’s small businesses, according to the results of a new survey by the National Small Business Association (NSBA).

Access to Capital Survey findings show that nearly half (43%) of small-business owners report that they needed funds at one point in the last four years and were unable to find any willing sources.

“Not only have small-business owners been unable to find new credit over the last four years, nearly a third had their existing credit slashed and one in 10 had their loans called in early,” says NSBA President and CEO Todd McCracken.

Among the small-business owners who reported some change to their credit, 60% stated that the reason given was the bank’s internal risk assessment. Fifteen percent said they were given no explanation for changes to their credit.

Only small community banks and credit unions received a majority overall positive rating among small businesses asked to rate various lending institutions.

May 5, 2012
Texcare International Opens in Fully Booked Hall

FRANKFURT, Germany — There are 264 exhibitors hailing from 26 countries

FRANKFURT, Germany — Energy and resource efficiency are key factors in the professional textile care sector, and sustainable and efficient technology and processes for dry cleaners, laundries and textile service providers were on display as Texcare International opened its five-day run on Saturday.

There are 264 exhibitors hailing from 26 countries in Hall 8 and the adjoining Galleria. “The mood in the sector is very good,” says Wolfgang Marzin, president and CEO of Messe Frankfurt, who accompanied media members during a guided tour of the show floor. “Hall 8 is fully booked up. All international market leaders have registered and will present their cutting-edge technologies. They expect the world’s leading trade fair for their sector to generate powerful business impulses.”

Marzin likened Texcare to the “Olympics of textile care,” referencing the show’s every-four-years cycle.

April 24, 2012
Texcare International Preview: Buzzword is Sustainability

FRANKFURT AM MAIN, Germany — Around 250 exhibitors and 15,000 trade visitors expected

FRANKFURT AM MAIN, Germany — Sustainability will be the dominant theme of Texcare International — World Market for Modern Textile Care when it returns here in two weeks.

Show organizer Messe Frankfurt says all international market leaders—including the Alliance International brands, Barbanti, Beirholms Vaeverier, Ecolab, Girbau, Heprotex, Jensen, Kannegiesser, Kreussler, LG Electronics, Lavatec Laundry Technology, Macpi, Miele, Multimatic, Pellerin Milnor, Renzacci and Veit—have registered to exhibit during the May 5-9 show.

Altogether, Messe Frankfurt expects to welcome around 250 exhibitors and 15,000 trade visitors. As in previous shows (the event is staged every four years), the proportion of manufacturers from outside Germany will exceed 60%; the most important exhibitor nations besides Germany are Italy and the United States, Messe Frankfurt says.

October 25, 2011
Pessimism Abounds in Municipal Bond Market

CHICAGO — When it comes to investing your money, there’s more than enough pessimism to go around, and nowhere is it easier to find than in today’s municipal bond market. Many state and local municipalities are facing the toughest budget problems they have ever seen. California, Illinois and New Jersey are among the states wrestling with money woes. Major cities such as Philadelphia, Atlanta, and Columbus, Ohio, are on a long list of municipalities looking at major tax increases and/or cutting of services and personnel as a last resort for rising above an enveloping debt crisis.

Marilyn Cohen, president and CEO of Envision Capital Management, describes the current bond market as “the biggest slow-motion train wreck I've ever seen.”

August 29, 2011
SAMCO Changes Name, Location

ATLANTA — Southern Automatic Machinery Co. (SAMCO) has changed its name and moved into a larger, more customer-friendly location, the company says.

The company officially changed its name to the acronym that customers already use: SAMCO.

“Our company has history in the Atlanta area, and rather than lose part of our heritage by developing a new name, we decided to become more modern and use our initials,” says John Sugg, president and CEO of SAMCO.

The company has been operating as Southern Automatic Machinery Co. since the 1940s, when it was founded. SAMCO got its name because it was located in the South, and at the time, washing machines were referred to as automatic machines.

SAMCO’s new, 10,400-square-feet facility is located at 133 N. 85 Parkway in Fayetteville, Ga.

“These changes were made with the customer in mind, and we believe it will strengthen our existing relationships while helping to forge new ones,” Sugg says. “We’ll remain the company our customers have come to know and trust, and [we] look forward to continued success as we approach 2012.”

February 7, 2011
Alliance Announces Executive Promotions

RIPON, Wis. — Alliance Laundry Systems announced that effective Feb. 1, Thomas F. L’Esperance will become vice chairman of the Board of Directors of parent company ALH Holding Inc., and Michael D. Schoeb will be promoted to chief executive officer of Alliance. The company’s executive staff will now report to Schoeb in his combined role as president and CEO.

June 15, 2010
U.S. Chamber Honors Prestige with Award

WASHINGTON — The United States Chamber of Commerce honored Knoxville, Tenn.-based Prestige Cleaners with the Community Excellence Award at America’s Small Business Summit 2010. Prestige won the prize by gaining over 1,500 online votes in recognition of its exemplary business practices in employee development, community involvement, customer service and strategy.

October 7, 2008
Small Business Lends Support to Bailout

WASHINGTON — Small business gave its support to a $700 billion bailout plan in advance of the vote last week that pushed the bill through Congress. President Bush signed the bill into law on Friday to help relieve a growing credit crisis that threatens the nation’s banking system.

May 19, 2008
Roof Collapses at M&B’s Alabama Facility

LEEDS, Ala. — A section of roof collapsed over M&B Hangers’ Alabama facility Thursday, injuring six and forcing the company to temporarily halt production.

Contractors were repairing a column in the facility’s storage area that had been hit by a forklift a few weeks prior when the roof began “falling in sections,” president and CEO Milton Magnus told the Associated Press. Heavy storms in recent weeks may have further compromised the structure, he says. About a third of the 100,000-square-foot facility was affected.

June 20, 2007
Dove Converts to GreenEarth Solvent

TORONTO — DoveCorp Enterprises, a retail drycleaning conglomerate with more than 100 stores in the Toronto metro area, announced Monday that it will convert its entire operation from perchloroethylene to GreenEarth’s silicon-based solvent.